All District government employees are eligible to participate in the Deferred Compensation Program, an optional savings program that allows employees to tax-defer income and invest for the future. The portion of salary an employee contributes reduces the amount of taxable income in each paycheck.
The Internal Revenue Service determines the annual maximum amount that can be deferred. In 2007 and beyond, the maximum will be indexed annually for cost of living increases in $500 amounts.
You may also be eligible for increased annual contributions: